Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Grows By 28.0%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 15,100 shares, a growth of 28.0% from the August 31st total of 11,800 shares. Based on an average daily trading volume, of 21,400 shares, the short-interest ratio is presently 0.7 days.

ArrowMark Financial Stock Up 2.0 %

Shares of BANX stock traded up $0.40 during trading on Friday, hitting $20.70. 15,049 shares of the stock traded hands, compared to its average volume of 17,466. ArrowMark Financial has a 52-week low of $16.28 and a 52-week high of $21.67. The firm’s fifty day moving average price is $20.02 and its 200-day moving average price is $19.07.

ArrowMark Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 26th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.80 dividend on an annualized basis and a yield of 8.70%.

Hedge Funds Weigh In On ArrowMark Financial

A number of hedge funds have recently modified their holdings of BANX. Capital Investment Advisors LLC raised its holdings in ArrowMark Financial by 3.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock valued at $631,000 after buying an additional 1,000 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of ArrowMark Financial during the first quarter valued at about $340,000. Finally, Falcon Wealth Planning purchased a new stake in shares of ArrowMark Financial in the 2nd quarter valued at approximately $264,000. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

ArrowMark Financial Company Profile

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.